-
Business delegation from Mindanao is on a trade and investment mission in Singapore to strengthen economic linkages
-
The delegation comprising executives of 23 Mindanao-based companies seeks investment opportunities in Singapore’s markets, seaports, and processing facilities
-
The mission led by the Mindanao Development Authority is set to hold business-to-business networking sessions with counterparts on August 10
A business delegation from Mindanao is in Singapore this week for a trade and investment mission in a bid to strengthen economic linkages with the country.
The group, representing 23 companies from the island-region, arrived on August 8 to conduct site inspections in Singapore’s markets, seaports, and processing facilities to identify viable investment opportunities and benchmark on various business practices.
A business forum led by the Mindanao Development Authority (MinDA) is also slated on August 10 where the Mindanao delegation and their Singaporean counterparts can explore areas for partnerships through business-to-business networking sessions.
“The goal of this business mission is to jumpstart possible investments for the Mindanao business community and allow them to learn from industry standards in Singapore for a more competitive stance in the global market,” Philippine Embassy in Singapore Chargé d’Affaires Emmanuel R. Fernandez said.
With Singapore being a major hub for global markets, MinDA chairperson secretary Maria Belen S. Acosta said that the series of promotional activities intends to raise awareness and interest on Mindanao’s potential as a prime investment destination.
“We want to present Mindanao’s competitive position where investments in the area yield high returns, thanks to its vast fertile lands, ideal climate for agricultural production, and skilled labor force,” she added.
MinDA deputy executive director and assistant secretary Romeo Montenegro said the business forum aims to send a message that Mindanao is “back in business” with its robust economic performance despite the setbacks brought about by the global pandemic.
“Our agriculture, forestry, and fishing sectors being able to display positive growth even during the peak periods of the COVID-19 crisis makes a strong case for Mindanao’s capacity as an investment area especially for agri-based industries,” Montenegro said.
Agricultural development and food security are among the priority sectors of the Marcos administration – with focus on increasing productivity and ensuring self-sufficiency.
The four-day trade and business event is co-organized by MinDA with the Philippine Embassy in Singapore, the Department of Trade and Industry, the Philippine Chamber of Commerce and Industry, and the Bangsamoro Autonomous Region in Muslim Mindanao.
